Increased efficiency within its residential loan servicing division has Nationstar Mortgage LLC cutting mortgage jobs in three states.
The Lewisville, Texas-based home loan servicer plans to eliminate approximately 160 positions in its performing servicing department.
Layoffs at Nationstar will begin at the end of this month and are expected to be completed by the middle of October.
John Hoffmann, senior vice president, corporate communication, confirmed the staff reductions in a written statement.
Nationstar’s hometown of Lewisville is the location of 50 of the layoffs.
Another 90 positions are being eliminated in Scottsbluff, Neb.
The remaining 20 layoffs are in Littleton, Colo.
“We’re making this change to better align our staffing levels with our current business needs,” the statement said. “Although our servicing pipeline remains strong, we’ve improved efficiency through increased staff training, improved processes and additional technology solutions.”
Nationstar reported a servicing portfolio of $378.4 billion as of June 30.
Headcount prior to the layoffs stood at around 6,000 employees.
